Notice of Commission Order – Application for Exemptive Relief – Banque Centrale de Compensation Carrying on Business as LCH SA
On November 25, 2019, the Commission issued an order under section 147 of the Securities Act (Ontario) (Act) exempting Banque Centrale de Compensation carrying on business as LCH SA from the requirement in subsection 21.2(0.1) of the Act to be recognized as a clearing agency (Order), subject to terms and conditions as set out in the Order.
The Commission published LCH SA’s application and draft exemption order for comment on August 8, 2019 on the OSC website at: https://www.osc.gov.on.ca/en/Marketplaces_lch_20190808_rfc-application-for-exemption.htm and at (2019), 42 OSCB 6714. No comment letters were received.
In issuing the Order, non-substantive changes were made to the draft order published for comment. The non-substantive changes included clarifying terms and conditions and correcting a numbering error.
A copy of the Order is published in Chapter 2 of this Bulletin.